i really can't comprehend what the rate cut is trying to save, this subprime borrowers r going to default with or without the cut since they r borrowing way abv their risk thresholds, all they require is a small trigger, some wise guy here was going abt rate cut is stimulating the grease that oils the economy including global and all that, really the only place i see it oiling seems to be commodities and equity, transferring more wealth from the average and below to the wealthy, the fact that markets can keep making highs repeatedly in such short time frames and fluctuate to such has to imply there is ample liquidity at least in the markets to enable such wide swings

in the 70s C$1.10, Vancouver Canucks payroll has dropped from
C$72M to C$45M, Canadians are crossing the border to shop and
fill their gas tanks, 'snowbirds' are loving it but American tourists
have disappeared and the oil producers, loggers and miners are
crying all the way to the bank